FEATURED ARTICLES ABOUT UTV SOFTWARE COMMUNICATIONS - PAGE 4

MUMBAI : Media & Entertainment Group, UTV Software Communications, on Monday said it has acquired 80 per cent stake in US-Based online game publishing Group, True Games Interactive for an undisclosed sum. The acquisition, which has been executed through the group's gaming arm, UTV Interactive, is in line with the business strategy of achieving growth through the inorganic route, the company said in a press statement issued here....

MUMBAI: UTV Software Communications is likely to sell its stake in online gaming company Indiagames for around 220-240 crore, a person close to the deal told ET. The deal may close as early as 60-90 days, he said. Diversified media company, UTV holds around 56% in the gaming company which is set to be bought by either a US-based gaming company or a venture capital fund, the person said. Other investors in Indiagames include promoter Vishal Gondal, US information technology major Cisco , and software major Adobe.

MUMBAI: UTV New Media, the digital media arm of UTV Software communications Ltd, today announced its foray into the digital media space accquiring a controlling stake of 76 per cent for Rs 15 crore in 'IT Nation', a leading online infomediary. "UTV New Media envisages an investment of around Rs 120 crore over the next two years into a combination of the internet space with a portfolio of ten portals targeted at specific needed gaps in the internet space. UTV will accquire 20,000 music titles including Jodhaa Akbar and upcoming Akshay Kumar starrer 'Singh is king'," T N Prabhu, CEO of UTV New Media said in a statement here today.

MUMBAI: Ronald D'Mello, a veteran with the Ronnie Screwvala-promoted UTV Software Communications, has put in his papers. Mr D'Mello, who held several key positions UTV, from director-operations and finance to chief operating officer, was recently put in charge of UTV-UK as its CEO. He was to head UTV's new media initiatives including its animation arm UTV Toons and post-production arm UTV Post. He was to look after investments in console game development company, Ignition UK, as well as Indian mobile and online game company India Games, which UTV recently acquired.

MUMBAI: Mahesh Samat , managing director of Walt Disney India , has put in his papers in the middle of the US entertainment company buying out its Indian partner, UTV, and a possible delisting from the stock exchanges. Both Disney and Samat did not reply to emails inquiring about Samat's decision, but more than one person in the company, who did not want to be named, confirmed the development. Last July, Walt Disney made a $454-million offered to buy the Indian promoters, including UTV promoter Ronnie Screwvala from UTV Software Communications.

NEW DELHI: Walt Disney Co plans to buy the rest of UTV Software Communications (UTV) it does not own and delist the company in a deal potentially valued at $454 million, or Rs 2,014 crore, as the US entertainment giant seeks to expand its presence in Bollywood, media and gaming. The Burbank, California-based company, which owns 50.44% of UTV Software, said in a statement it would buy out public shareholders at a price not exceeding 1,000 per share, an 11% premium to Monday's stock closing price of Rs 901.8.

NEW DELHI: Mumbai-based media company UTV Software Communications will invest Rs 600 crore over the next three years for launching nine television channels. The first general entertainment channel Bindass will go on air from September 24 along with a Hindi movie channel targeted at youth. Two other Bindass brand channels would be introduced in April next year. "We have set up a UTV network for launching a bouquet of nine channels over the next 18 months with an outlay of Rs 600 crore for over next three years," Bindass CEO Zarina Mehta told reporters.

MUMBAI: Media and entertainment firm, UTV Software Communications , expects an around Rs 1,200-crore revenue on a consolidated basis in the current fiscal, even as it sees a 100 per cent growth in its gaming business , a top company official said. The company has reported a consolidated net profit of Rs 40.2-crore for the first quarter ended June 30 as against a loss of Rs 31.8-crore in the year-ago period. "We expect around Rs 1,100-1,200-crore sales for the company.

MUMBAI: The UTV Software Communications board on Friday approved a proposal to raise Rs 750 crore through equity and debt from Indian and overseas markets to finance its expansion plans in movies, broadcasting and gaming verticals. The proceeds will also be utilised to retire debts, the company said in a statement to BSE. The board has also approved increasing authorised share capital from Rs 45 crore to Rs 70 crore, subject to shareholders approval. The company's chairman Ronnie Screwvala could not be reached for comment.

MUMBAI: UTV Software Communications, which is in the process of initiating over 10 broadcasting channels over the next 18 to 24 months, has made three strategic changes in the overall top management of the company. Ronald DMello would take over as CEO of UTV-UK which would house all of UTV's New Media initiatives. He would be responsible for spearheading the growth and strategy of the company, UTV Software informed the BSE. UTV-UK would include the animation business -- UTV Toons, the post production and SFX business, UTV Post as well as the recent controlling investment in the console game development and publishing company, Ignition UK and India Games.